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LAC Stock Price Surges 16% on Monday

Investors AlleyLAC Stock Price Surges 16% on Monday
Since March 2020, shares of LAC have run from a low of $1.92 to $7.66 – and could potentially turn higher. All on expectations of higher lithium prices, with demand outweighing supply. And all thanks to electric vehicle (EV) sales that are growing much faster than anyone expected. In fact, according to a new study […]
LAC Stock Price Surges 16% on MondayIan Cooper

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This article was originally published by Investors Alley

Investors Alley
LAC Stock Price Surges 16% on Monday

Since March
2020, shares of LAC have run from a low of $1.92 to $7.66 – and could
potentially turn higher. All on expectations of higher lithium prices, with
demand outweighing supply.

And all
thanks to electric vehicle (EV) sales that are growing much faster than anyone
expected. In fact, according to a new study from the Boston Consulting Group,
by 2025, EVs could account for a third of all auto sales. By 2030, EVs could
surpass internal combustion engine vehicles with a market share of 51%. That could lead to a sizable spike in demand with lithium
used in EV batteries.

Photo Credit: Lithium Americas

Plus,
experts now predict that by 2040, electric cars will make up 58% of the light
vehicle market. In addition, according Resource World, “A recent report by Global Market Insights, Inc. concluded
that the global lithium ion battery market is set to surpass US $60 billion by
2024 with a global market of 534,000 tonnes of lithium carbonate by 2025.”

Plus, over the last few weeks,
Lithium Americas completed its transaction with Ganfeng Lithium Co., Ltd. in respect of their joint
venture company, Minera Exar S.A. Minera Exar owns 100% of the Caucharí-Olaroz
lithium project currently under development in Jujuy, Argentina.

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“The
Transaction with Ganfeng Lithium further strengthens our long-term partnership
in Argentina as we work together to bring Caucharí-Olaroz into production,”
commented Jon Evans, President and CEO. “With an additional US$40 million in
cash on our balance sheet and over US$200 million in available capital to fund
our share of Caucharí-Olaroz, Lithium Americas remains in a strong financial
position as we advance both of our projects.”

“Caucharí-Olaroz
is approximately 50% complete and represents one of the few large-scale lithium
operations currently in development globally. We are coordinating closely with
the Province of Jujuy to ensure we operate responsibly and safely as we
gradually restart construction activities. The health and safety of our workers
and the communities close to the project is our top priority.”

Earnings are Fueling Upside

Lithium
Americas posted a second quarter loss of seven cents a share. However, that
fell within the range analysts were looking for.

The better
news is that Lithium Americas is moving forward with two projects that could
generate solid revenue, and hopefully a profit. Those include the
Cauchari-Olaroz project in Argentina, and the Thacker Pass project in Reno,
Nevada.

“With respect to the Thacker Pass
lithium project in Nevada, we continue to make significant progress with the
recent release of the draft Environmental Impact Statement by the Bureau of
Land Management,” added Evans.

Ian Cooper’s Personal Position in LAC:
None

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LAC Stock Price Surges 16% on Monday
Ian Cooper

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Author: Ian Cooper

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